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Banks To Discontinue Free Banking Services?

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Indian-Banking-Services

Banks To Discontinue Free Banking Services?
Will Banks End Free Banking Services, Will Banks Remove Free Banking Services, Will Banks Discontinue Free Banking Services, Banking Services

The Indian Banks Association (IBA) has dismissed the rumours that free banking services would be withdrawn after January 20. The Indian Banks Association-IBA in its official statement states that these rumours that are spreading around social media and other sources are baseless and false. Public should be careful and should not get misled by such messages. Such news are pure rumours and there are no such fresh RBI instructions/guidelines on this.

Indian Banks Association (IBA) press release Statement follows “There are reports in some segments of social media based on misinformed communications and spreading false information that all the free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither move by banks for such a blanket removal of free services not such thing is being contemplated. However, banks looking at its commercial and operational costs would constantly examine and revise charges as the case may be.

It is clarified by IBA that these rumors are baseless and false. Public should be careful and should not get misled by such messages. Such news are pure rumors and there are no such fresh RBI instructions/guidelines on this.”

Reacting to the hoax that’s spread around stating free services of public sector banks will be ceased after January 20, Rajeev Kumar, secretary of Department of Financial Services, tweeted: “No proposal by Banks to discontinue free services from 20th January. Pure Rumors. Pl Ignore.